This is a simple pattern i have seen time after time in multiple time frames.it differs from a double/triple bottom as there are multiple touches but if you exclude the 'noise' of the market there is a clear 'W'. Anyone who is 40+ will remember the early 1970's film "It's a Mad,mad world"....in this film Jim Durante tells other cast memebers the treasure was placed under the 'big dubbaya' and then kicks the bucket ( literally!).With this pattern the 'treasure' is in confirmation of price exceeding the first swing high ie the start of the W on the top left hand side.
Wednesday, 15 September 2010
A big "W"
This is a simple pattern i have seen time after time in multiple time frames.it differs from a double/triple bottom as there are multiple touches but if you exclude the 'noise' of the market there is a clear 'W'. Anyone who is 40+ will remember the early 1970's film "It's a Mad,mad world"....in this film Jim Durante tells other cast memebers the treasure was placed under the 'big dubbaya' and then kicks the bucket ( literally!).With this pattern the 'treasure' is in confirmation of price exceeding the first swing high ie the start of the W on the top left hand side.
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